Wed Nov 23 2022
2 min read
After Black Friday and Singles' Week turbocharging sales for retailers, the halt in the supply chain is here. Chinese New Year, a.k.a Lunar New Year, is a yearly 15-day celebration celebrated in China and by Chinese populations worldwide that falls anytime between January and February (the next Chinese New Year will be observed on January 22nd, 2023). That's 15 days when the largest supplier network in the world is paused for festive celebrations.
Download the Case Study here to know more about supply chain hassles during the Chinese New Year.
Founded in 2015, XimiVogue is an international fast-fashion franchise brand. It provides high-quality daily products to global consumers in a cost-effective manner. With an aim to create a valuable lifestyle, XimiVogue is advantageous in the below aspects:
Even though the festival is merely a 7-day national holiday in China, suppliers, partners, and contract manufacturers may experience a painful 4-week production halt. Almost everything closes down during this time, including the government and companies, while ports and customs often run on a minimal workforce and concentrate on perishable and priority goods.
Download the Case Study here to know more about industries most affected through this halt in the supply chain.
Some of the prominent challenges faced by XimiVogue during CNY are:
Download the Case Study here to know more about XimiVogue's inventory management ethos.
1. Plan Ahead
Planning for both the period before and after the festival is advised because the effects of the CNY may continue until the following spring. As a result, XimiVogue creates a solid demand picture that includes both structured data (orders) and unstructured data (sentiment analysis, weather patterns, events). To reduce any potential gaps, the company also recommends stepping up monitoring and communication in the months before and after the CNY break.
Download the Case Study here to know what Abhishek More, Director at XimiVogue plans for the Chinese New Year 2023
2. Fast & Flexible Capital for inventory flow
“Revenue Based Financing from Klub has been very helpful for us because it was difficult for us to get financing from banks in the initial years of our operation. Moreover, repayments at Klub are also on the basis of our monthly revenues which works very well for us. Their turnaround time is very fast which helps us in meeting any urgent fund requirements.”
- Abhishek More, Director at XimiVogue
XimiVogue has raised more than 5 rounds of Revenue Based Financing from Klub during the course of 17 months.
Download the Case Study here to know more about what flexible funding did for XimiVogue during inventory hassles.